Fresenius Kabi makes open offer to buy 20% of Dabur Pharma

MUMBAI: Fresenius Kabi, an arm of German healthcare group Fresenius SE, on Wednesday made an open offer to buy an additional 20 per cent in Burman family-owned Dabur Pharma at Rs 76.50 per share.

Morgan Stanley India Company (manager to the open offer) issued a public announcement on behalf of Fresenius Kabi (Singapore) Pte Ltd (acquirer) and Fresenius Kabi Austria GmbH, Fresenius SE and Fresenius Finance BV (persons acting in concert/PACs), Dabur Pharma said in a filing to the Bombay Stock Exchange.

The share-buy offer, which opens on June 13 and closes on July 3, if fully subscribed, would cost the new owner around Rs 240 crore.

The offer has been made to all shareholders of Dabur Pharma to acquire over 3.13 crore fully paid-up equity shares of face value Rs 1 each forming 20 per cent of the emerging voting capital of the target company (Dabur Pharma).

Earlier this month, the Burman family, promoters of the Dabur Group, had decided to divest its entire stake in Dabur Pharma to Fresenius Kabi, a business segment of Fresenius SE, with business interests across the global healthcare.

Fresenius Kabi had bought 73.3 per cent of the anti-cancer drug maker for Rs 878.2 crore in cash. Shares of the company closed at Rs 73.20 at the BSE, up 0.07 per cent from the previous close.